The Land Report

AG 2019

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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FrontGate FRO M TRI - CIT Y H ER ALD. © 20 19 M CCL ATCHY. ALL RI G HTS R E SERVED. USED U N D ER LI CENSE . FARMLAND e company also founded the New Horizon Early Childhood Edu- cation Center to look after and assist with the development of children whose parents were on the company payroll. e Broetjes established Villa Hermosa Foundation to carry out the mission of "bearing fruit that will last." A residential development in Pasco was established to foster a greater sense of community for the employees. By 1987, a lender was willing to finance the construction of an on-site packing plant in Prescott. is marked a new chapter for the entrepreneurs, one marked by vertical integration. Broetje Orchards could now grow, pack, and ship millions of apples from a single site. In the decades that followed, the company expanded its orchard holdings, built cold-room and controlled-atmo- sphere storage, and cultivated a total of 15 varieties of apples and cherries. bright yellow Opal® is the first Ameri- can apple variety to be verified by the Non-GMO Project. e purchaser ranks as Canada's largest single-profession pension plan. e Ontario Teachers' Pension Plan currently has more than $142 billion (CA$189.5 billion) in net assets. e Toronto-based pension plan appointed a former Broetje Orchards executive, Jim Hazen, chief executive of the new enterprise, which will operate as First- Fruits Farms, FirstFruits Marketing, and FirstFruits Community. In addition to Broetje Orchards, Ontario Teachers' has invested in other US agribusinesses, including mussels producer Atlantic Aqua Farms, row- crop REIT Goldcrest Farm Trust, and Woodspur Farms, the largest integrated organic date grower and processor in the US with 46 properties in California and Arizona. e company established itself as an industry leader that grows more than 7 mil- lion apples a year. is breaks down to 28,000 boxes of apples a day at the 1.1 million-square-foot processing facil- ity in Prescott. Payroll numbers range from 1,000 permanent employees to 2,800 during peak season. e company's principal orchard is a 4,300-acre tract near Prescott in Walla Walla County. is frost-free microclimate borders the Snake River and consistently produces high-quality fruit. Additional orchards are located nearby in Wallula and Benton City. e company's signature varietal is the Opal® apple, which was developed on-site. Crisp, sweet, and non-browning, the The 6,175 acres sold for $288 million or roughly $46,000 per acre. MILLIONS & MILLIONS Some 28,000 apples are boxed on a daily basis at Broetje's own processing facility. 20 L ANDREP ORT.COM e LandReport | AGRICULTURE 20 19

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